Nifty Index Nifty is currently trading around 21,870, continuing its downward trajectory since hitting an all-time high of 26,277.35. The recent rebound of 1,915 points from 21,964.60 to 23,879.60 was short-lived, as the index faced strong resistance near the reaction high of 23,807.30 (recorded on 5th February 2025), and has since resumed its decline. Today’s session opened with a steep 5% gap down at 21,758.40, breaching the previous low of 21,964.60 made on 4th March. While there was a recovery attempt due to bargain hunting and possible support around the 21,800 level, Nifty failed to sustain above the critical psychological mark of 22,000 and started slipping again. Derivatives and Open Interest (OI) Analysis The options data reflects significant uncertainty, with OI spread widely across multiple strikes — a sign of increased volatility. On the Put side, strong writing is visible at the 21,000 and 20,650 levels, suggesting potential support zones. Meanwhile, Call writing is con...
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